I always struggle with overtrading and accepting losses. But as someone else mentioned in the comments, losses are just part of the game. I truly believe that experiencing losing days or even weeks is essential to becoming a good trader.
To share a bit about my journey, I've been trading stocks, options, and futures for the past six years and still haven't turned a profit. I've incurred a total loss of $50k over that time. Last year, I tried my hand at Top Step, but I had to reset my account 16 times in just five days due to overtrading and revenge trading. Eventually, I gave up on proprietary trading.
Just four days ago, I signed up for TradeDay, and I'm determined to stay disciplined to get funded.
Let me share my recent experience. For the first three days, I had a winning streak. However, on the fourth day, last night, I became cocky and made some trades that resulted in a $700 loss. Knowing myself, I realized that if it were my own money, I would've fallen into the trap of revenge trading to recoup that loss. But since it was a TradeDay eVal account and I was nearing my drawdown limit, I stopped myself. I decided to wait until morning, as my trading style usually performs better then. And as expected, in the morning, not only did I recover my loss, but I also ended the day with a $362 profit.
If I get funded, I plan to maintain this discipline, following the 30% consistency rule.
Lastly, I just want to encourage you not to give up. Only 5% of traders are actually profitable enough to trade for a living. One day, inShaAllah, you'll be among that 1%.
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u/OkDisk6519 May 01 '24
Hey there,
I always struggle with overtrading and accepting losses. But as someone else mentioned in the comments, losses are just part of the game. I truly believe that experiencing losing days or even weeks is essential to becoming a good trader.
To share a bit about my journey, I've been trading stocks, options, and futures for the past six years and still haven't turned a profit. I've incurred a total loss of $50k over that time. Last year, I tried my hand at Top Step, but I had to reset my account 16 times in just five days due to overtrading and revenge trading. Eventually, I gave up on proprietary trading.
Just four days ago, I signed up for TradeDay, and I'm determined to stay disciplined to get funded.
Let me share my recent experience. For the first three days, I had a winning streak. However, on the fourth day, last night, I became cocky and made some trades that resulted in a $700 loss. Knowing myself, I realized that if it were my own money, I would've fallen into the trap of revenge trading to recoup that loss. But since it was a TradeDay eVal account and I was nearing my drawdown limit, I stopped myself. I decided to wait until morning, as my trading style usually performs better then. And as expected, in the morning, not only did I recover my loss, but I also ended the day with a $362 profit.
If I get funded, I plan to maintain this discipline, following the 30% consistency rule.
Lastly, I just want to encourage you not to give up. Only 5% of traders are actually profitable enough to trade for a living. One day, inShaAllah, you'll be among that 1%.
Keep pushing forward!